Boston Scientific Corporation (NYSE:BSX) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lifted its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 19.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,418 shares of the medical equipment provider’s stock after buying an additional 13,490 shares during the period. Crestwood Advisors Group LLC’s holdings in Boston Scientific were worth $8,213,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific during the 4th quarter valued at about $25,000. Colonial Trust Co SC increased its stake in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 260 shares during the period. Sunbeam Capital Management LLC purchased a new position in Boston Scientific in the 4th quarter valued at about $26,000. Ameriflex Group Inc. purchased a new position in Boston Scientific in the fourth quarter valued at about $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president owned 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the sale, the chief executive officer owned 1,476,882 shares of the company’s stock, valued at $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 457,144 shares of company stock worth $47,296,288 over the last 90 days. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

BSX has been the topic of several research reports. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Leerink Partners began coverage on shares of Boston Scientific in a research note on Monday, June 16th. They issued an “outperform” rating and a $118.00 price objective on the stock. Citigroup reissued a “buy” rating and set a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Finally, Leerink Partnrs raised shares of Boston Scientific to a “strong-buy” rating in a research report on Monday, June 16th. Twenty-two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $116.09.

Boston Scientific Stock Down 0.5%

Boston Scientific stock opened at $103.10 on Monday. The firm has a 50 day simple moving average of $103.42 and a 200 day simple moving average of $101.16. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $107.53. The firm has a market capitalization of $152.53 billion, a price-to-earnings ratio of 75.46, a P/E/G ratio of 2.69 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the prior year, the firm posted $0.56 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. On average, analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.